Tech mahindra
Tech mahindra

Tech Mahindra FY15 revenues at INR 22,621 crore up 20% YoY

USD revenue at $ 3,686 Mn up 19% YoY

Mumbai - May 26, 2015: Tech Mahindra Ltd., a specialist in digital transformation, consulting and business reengineering today announced the audited consolidated financial results for its fourth quarter and year ended March 31, 2015.

Financial highlights for the quarter (INR)

  • Revenue at INR 6,117 crore; up 20.9% YoY and 6.3% QoQ
  • Operating profit (EBITDA) at INR 929 crore; margins at 15.2%
  • Profit after Tax (PAT) at INR 472 crore; PAT margin at 7.7%
  • Earnings per Share (EPS) was INR 4.93 for the quarter ended March 31, 2015

Financial highlights for the quarter (USD)

  • Revenue at USD 984 Mn; up 19.3% YoY and 6.5% QoQ
    • Revenue contribution from LCC & Sofgen at USD 100 Mn
  • Operating profit (EBITDA) at USD 149 mn; margins at 15.2%
  • Profit after Tax (PAT) at USD 76 Mn; PAT margin at 7.7%

Financial highlights for the year (INR)

  • Revenue at INR 22,621crore; up 20.9% YoY and 6.3% QoQ
  • EBITDA at INR 4,153 crore; margins at 18.4%
  • Profit after Tax (PAT) at INR 2,628 crore; PAT margin at 11.6%
  • Earnings per Share (EPS) was at INR 27.46 for the year ended March 31, 2015

Financial highlights for the Year (USD)

  • Revenue at USD 3,686 Mn; up 19.3% YoY
  • EBIDTA at USD 675 Mn; margins at 18.3%
  • Profit after Tax (PAT) at USD 427 Mn; PAT margin at 11.6%

Other Highlights

  • Total headcount for the year at 103,281; adds 13,840 professionals during the year
    • Software headcount stood at 72,952, BPO at 22,693 and Support at 7,636
  • Debt at  INR 700 crore as of March 31, 2015
  • Cash and Cash equivalent at  INR 3,212 crore as of March 31, 2015
  • Active Client count stood at 767 vs. 629 in FY14

Vineet Nayyar, Executive Vice Chairman, Tech Mahindra, said “Q4 results faced unfavourable macro-economic headwinds, but despite those, we had a fair run. While US remains our biggest play, the otherwise volatile Euro market is where we see ourselves gaining prominence. The global political scenario is capricious for our Industry and we have to remain cautiously optimistic for the new fiscal.”

C P Gurnani, Managing Director & CEO, Tech Mahindra said, “Despite the blip, we grew ahead of the Industry in FY15. Our Inorganic investments have started to stabilize and yield results. Our growth journey continues with entry into new technology and business areas through niche platforms, focus on productization for non-linear growth, while creating an environment for IP development and leveraging maximum value from our well entrenched customer relationships.”

Key Wins:

  • Won a strategic deal from a leading Global telecom operator in APAC for Customer Relationship Management (CRM) transformation enabling the service provider to strengthen its leadership position in providing innovative products and services to its customers
  • Tech Mahindra was selected by a telecommunications and electronics retail company to manage its end-to-end IT operations. The deal involves implementation, operations and launch of a new Mobile Virtual Network Operator (MVNO) set up for the customer
  • Engaged by a Fortune 25 global conglomerate for the development of a statistic analytical platform for its Remote Monitoring & Diagnostics (RM&D) usage. Tech Mahindra will also be responsible for its system integration
  • Won a SAP application maintenance services deal from a Swiss global healthcare company, helping achieve cost optimization and aiding growth
  • United Arab Emirates government agency chose Tech Mahindra to provide application development maintenance and support services. Additionally Tech Mahindra will provide IT infrastructure management competencies to deliver these services.
  • Selected by an American conglomerate for providing end to end IT services for its engineering tools encompassing sustenance, development and support, business analysis services, data migration and automation testing.
  • Engaged by a premier electric car Original Equipment Manufacturer (OEM) for providing engineering services for design and development for future car models.
  • A top global pharmaceutical company chose Tech Mahindra to be its strategic partner for SAP retrofitting its IT system helping customer become more agile to meet its end customer’s need.
  • A global auto major selected Tech Mahindra in the area of Global Warranty Program for developing a common solution for its customers worldwide.
  • Won a deal from a multinational automotive supplier for its R&D efficiency program covering business process consulting, change management, technology consulting, deployment and support. TechM will help customer to have an Enterprise-wide Product Lifecycle management convergence with R&D efficiency and IT cost optimization.
  • Qatar’s leading media network company selected Tech Mahindra to provide global manpower services for technology transformation.

Business Highlights:

  • Signed a definitive agreement to acquire 100% stock ownership in SOFGEN Holdings Limited. SOFGEN is a Swiss based niche consulting & services company specializing in Private/Wealth, Commercial and Retail Banking Solutions globally.
  • Teamed up with a global telecom technology firm, Avion Systems, to provide Network Design and Engineering Services to major Communications Service Providers
  • Tech Mahindra and IBM entered into a strategic agreement to build a platform for development of cloud based applications. The Company will build cloud-native and cloud enabled applications with a scalable model and develop applications for predictive analytics for clients in automotive and manufacturing industry
  • Entered into a strategic alliance agreement with ConformIQ, a leader in Automated Test Design technology which seeks to strengthening leadership in delivering Test Automation Solutions to clients globally
  • Announced opening of the first ‘Center of Excellence (CoE) for Google tools, bringing transformational solutions to enterprises across Malaysia and the Asia Pacific region
  • Strengthened its presence in Vietnam by inaugurating a Sales Office in Hanoi, bringing jobs, IT expertise and expand operations in the country and across the region

Awards and Recognitions:

  • Declared winner of the ‘Golden Peacock Innovative Product/Service Award’ for the year 2015 for ‘Aabhaas’ a one of its kind 3D rendering technology which makes possible to interact with real life 3D objects on mobile platform
  • Won the prestigious MAKE – Most Admired Knowledge Enterprise Award 2014 for the KM practice for ‘Transforming TechM’s KM practice to stakeholder value’
  • Tech Mahindra entered the the Robecosam Sustainability Yearbook 2015. This yearbook is the culmination of rigorous research from analysts and inputs from assessed companies on Environmental, Social and Governance (ESG) parameters of the company
  • Declared winner of the 2014 Oracle Partner of the Year Award for its offerings and capabilities. This award recognizes partners’ contribution to the success of Oracle
  • Tech Mahindra Performance Engineering won ‘Data Centre Solution of the Year’ at the IT Europa Awards 2015
  • Awarded highest ranking Tech Support Partner by Verizon for its customer facing metrics like Net Promoter Score across voice and chat media
  • Tech Mahindra BSG has been included in the IAOP’s Global Outsourcing 100 rankings. IAOP (International Association of Outsourcing Professionals) is a global, standard-setting association and advocate for outsourcing professionals
  • Achieved Automotive SPICE Level 3 Certification under PATHFINDER certification scheme for process capability and organizational maturity

Gauri Kanikar

Investor Relations

Email: gauri.kanikar@techmahindra.com

Investor.relations@techmahindra.com

Aashish Washikar

Global Media Relations

Email: aashish.washikar@techmahindra.com


Disclaimer

Certain statements in this release concerning the future prospects of Tech Mahindra Limited (“the Company” or “TechM”) are forward-looking statements. These statements by their nature involve risks and uncertainties that could cause Company’s actual results differ materially from such forward looking statements. The Company, from time to time, makes written and oral forward-looking statements based on information available with the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company

Audited consolidated financial results for the quarter and year ended March 31, 2015 drawn under India GAAP

Consolidated Income Statement(INR Mn)

Particulars

Quarter Ending

Year Ending

Mar-15

Dec-14

Mar-14

Mar-15

Mar-14

Revenue from services

61,168

57,517

50,581

226,213

188,314

Cost of Services

42,526

37,656

32,470

151,578

117,001

Gross Profit

18,642

19,861

18,111

74,635

71,313

SGA

9,356

8,260

7,393

33,107

29,476

Operating Profit

9,286

11,601

10,718

41,528

41,837

Other Income

(653)

190

(867)

1,065

1,130

Interest Expense

177

38

97

297

798

Depreciation

1,721

1,441

1,429

6,114

5,222

Profit before Tax

6,735

10,311

8,325

36,183

36,948

Provision for taxes

1,845

2,512

2,092

9,596

7,524

Non-Recurring / Exceptional Items

-

1,200

-

-

1,200

Minority Interest

(170)

(31)

(91)

(310)

(336)

Profit after tax

4,720

7,768

6,142

26,277

30,288

Special Adjustments

1

285

-

1

-

Net Profit after special adjustments

4,721

8,053

6,142

26,278

30,288

 

EPS (Rs) – including exceptional items

 

 

 

 

 

Basic

4.93

33.69

26.41

27.46

130.25

Diluted

4.80

32.76

25.71

26.74

126.78

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Tech Mahindra represents the connected world, offering innovative and customer-centric information technology experiences, enabling Enterprises, Associates and the Society to Rise™. We are a USD 4.5 billion company with 115,850+ professionals across 90 countries, helping over 864 global customers including Fortune 500 companies. Our convergent, digital, design experiences, innovation platforms and reusable assets connect across a number of technologies to deliver tangible business value and experiences to our stakeholders. Tech Mahindra is amongst the Fab 50 companies in Asia (Forbes 2016 list).

We are part of the USD 19 billion Mahindra Group that employs more than 200,000 people in over 100 countries. The Group operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, after-market, information technology and vacation ownership.

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For further information please write to connect@techmahindra.com

For further information please write to connect@techmahindra.com